Dell Inc. to buy Dell Financial Services for 306M dollars

By Alexandra Steblinina. CIT Group Inc.'s 30 percent stake in Dell Financial Services would be bought by Dell Inc. for 306 million dollars.

Photo: Dell Inc. to buy Dell Financial Services for 306M dollars

Currently, Dell owns 70 percent of DFS, which provides financing services such as loans, leases and revolving credit for consumers, small business and commercial customers, the AP reports.

Dell Inc, an American technology-company based in Round Rock, Texas, develops, manufactures, sells and supports personal computers, servers, data-storage devices, network-switches, personal digital assistants (PDAs), software, televisions, computer peripherals and other technology-related products.

As of 2006, Dell employed more than 78,700 people worldwide.

Formerly holding a substantial lead in sales of PCs and of servers, the company recently slipped behind Hewlett-Packard (HP) in these markets.

In 2006, Fortune magazine ranked Dell as the 25th-largest company in the Fortune 500 list, 8th on its annual Top 20 list of the most-admired companies in the United States.

In 2007 Dell ranked 34th and 8th respectively on the equivalent lists for the year. A 2006 publication identified Dell as one of 38 high-performance companies in the S&P 500 which had consistently out-performed the market over the previous 15 years.